The Learning Curve by Muckdog

Earnings Rally

2009-07-15T13:57:00.001-07:00

The $INTC earnings news last night greased the skids and the market took off today. It tamped up all day long. Volume was strong. Tech and small caps led. Nice!
New Senator Al Franken asked Sotomayor if she remembered the one case TV lawyer Perry Mason lost. Isn't that what we expected from the SNL vet?
The week is flying by.
I noticed that the TV show The Cleaner had Grace Park smoking a cigarette in last weeks show. She also used the words "ass" and "shit storm." Its cable but sometimes catches you by surprise.
So is the market still going sideways for the Summer? Probably. I have remained long. Still thinking we are headed to an economic recovery.

Monday Rally!

2009-07-13T14:43:00.000-07:00

Nice move up in the stock market. Volume was decent. Financials did well, and I don't think the market is going anywhere without financials participating. Still in the Summer, though. Be patient.
Tony Romo called it quits with Jessica Simpson the night before her 29th birthday, People.com reports. Maybe I should put some cash on the Cowboys to win the Super Bowl, now that it's safe.
The Best Places to Live! This year's list prioritizes the economy, as that's where folks have their most concerns.
Natalie Portman joins the cast of action flick Thor.
Spent the weekend in Reno. Always fun. Seemed pretty crowded compared to other recent trips.

The Friday Once Over

2009-07-10T15:08:00.000-07:00

Who can blame Presidents Obama and Sarkozy giving her the once over? Anyone who has not shot a glance at a nice rear end, please step forward.
Another day where the stock market does nothing. I hope you're enjoying your Summer and not paying too much attention to this. Ask the Presidents, there are better things to pay attention to.
The Michigan sentiment numbers came out worse than expected. Well, the unemployment number sucks. We're battered with bad news constantly. Housing continues to tank. International strife around the globe's four corners. Celebrities are dying left and right. The Yankees are winning. What could be worse?
$20 gallon gas would be worse.
Heading to Reno. There will be some rear-end watching. I admit it. LOL. Have a great weekend!

Thursday Night Randomosity

2009-07-09T21:53:00.000-07:00

The stock market closed in the green. Advancers led. Financials and semis did well. Oil broke a losing streak. Jobs number came in "less bad" than expected.
T. Boone Pickens' huge wind farm scrapped.
The New York Yankees have the Minnesota Twins number. Beat 'em again today for the sweeeep.
The Michael Jackson memorial price tag? $1.4 million. Los Angeles officials say Tuesday's memorial service for Michael Jackson cost the city $1.4 million to cover security, traffic control, and other services, according to the Associated Press. The figure includes $1.1 million in overtime pay for the 4,173 police officers securing the Staples Center, Forest Lawn cemetery, and other areas that attracted fans and media, the Police Department said in a statement.
C'mon, we all know Michael Jackson is still alive and he faked his death. Now the money is rolling in from sales and he's laughing all the way to the plastic surgery table. In Hungary.
Global warming agreement at the G8 summit. Meeting here in L'Aquila, all parties agreed that global temperatures should not rise by more than an average of two degrees above pre-industrial levels. Somebody better fax that memo to the Sun.
G8 members also agreed to work toward an 80 percent cut in greenhouse gas emissions by the year 2050. While developing nations have committed themselves to negotiating cuts, they have not yet agreed on specifics. The specifics are that the jobs will go to the developing nations, who are more than happy to expand their middle class. And say, that (growing middle class) seems like a good idea for investment dollars, no?

As you can see in the picture, Michael Jackson is not dead. He is performing at the Imperial Palace in Las Vegas as a "dealertainer."

Hump Day Thoughts

2009-07-08T20:16:00.001-07:00

* At least the market recovered from weakness today. I'm in the summer doldrums and just trying to make it from weekend to weekend. My indicators (aka the Black Box) has been on a sell signal for a while (it was early), but I'm not doing much other than moving some things around. We'll see if that matters or not. Right now my portfolio is going down.

* Earnings season on deck. At least I think it is. LOL. Alcoa today, and they were not as bad as feared.

* I was reading some of the archives. What struck me as horrrrible was when I was poking fun at those citing the inverted yield curve back in 2006. Oopsie. They were right. I was wrong.

* I'm in first place in Fantasy Baseball. Love the MLB.com app for the iPhone. Listened to the Rockies today.

* Google to release an operating system that will utlimately compete with Microsoft Windows and Linux. I don't know, do we really need a new operating system? Is Google bored and looking for something to do? Are they retaliating for Microsoft's Bing search engine? (Which is pretty good, by the way).

* With Michael Jackson's service yesterday, I was hoping the news would die down and we could all move on. Together. Man, it's still in the headlines and dominating the radio shows.

* When I changed my commenting system to Disqus, it blew away all the old comments. Not that there were that many, but I miss them. Sob.

* I love Google Reader for reading blog feeds.

* Watched a 2001 movie starring William Macy and Neve Campbell called "Panic." Man she's hot. Shudder. Movie? Eh, somewhat entertaining. Middle-aged crisis where Macy finds himself unhappy with his life situation and stumbles into Neve.

* Now there's an idea in there somewhere.

Tuesday Night Update

2009-07-07T21:31:00.001-07:00

IBD has the market uptrend under pressure. Surprised they didn't change that one to something more dire. Just saying.
Despite almost a dozen years of cooling temperatures, the global warming crowd is mandating white roofs in California's hottest areas. ... What caught me was this from the reader comments: Shame on you deniers! What a marvelous idea Rosenfield has, we shouild also follow up with a thin layer of white paint on all the worlds oceans, dark grreen vegetation and the granite in the Sierra Nevada mountains.
Overall, not a bad idea as it will save folks some money on energy. Of course, this means that homes in CA will also be cooler in the winter, requiring more natural gas and electricity (from coal and nat gas) to heat their homes. Maybe they need reversable roofs, black for winter and white for summer.
Torchwood coming back July 20th. Set the DVR!
Dr. Who the week after. Last one with David Tennant.
Didn't watch the Michael Jackson funeral. You? While everyone is remembering him fondly, also remember the lesson learned from this. Seems to me that he squandered his talent. The last 15 years (or so) were a complete mess. And we have another talent that has fallen to drugs. Insane.

Monday Blahs

2009-07-06T18:58:00.001-07:00

The market acted like I felt today: BLAH! The ISM came in "better" than expected, but still below the magical growth number of 50. Decliners led advancers, but volume was light. I think a lot of folks decided to make it a longer weekend and didn't even bother to phone it in today.
Maybe the market is just watching and waiting for the Michael Jackson funeral service tomorrow.
I was just watching Kendra via the DVR. Topless indoor skydiving?
Perhaps the "jumping the shark" moment for Al Gore's global warming was when he released his movie, An Inconvenient Truth. Global temperatures continued to plunge this past month.
Planet Earth has dropped 74°F since Al Gore released his "Inconvenient Truth." Meanwhile, the politicians forge ahead with cap-and-trade. Hello, McFly?
The Economics of Climate Change. Very. Good. Read.
John Hussman says the market will deliver a 7.8% annual return over the coming decade.
Hey, American Idol judge Kara Dioguardi got married! Pictured.
Al Franken goes to Capitol Hill. The Al Franken Decade officially begins. I think the Dems should replace Pelosi with Franken. At least we'd mostly be laughing with him.

The 5th of July

2009-07-05T22:29:00.001-07:00

The holiday isn't over until Will Smith and Jeff Goldblum shoot down the alien ship!

Asian markets down as I type.

Yea, just an excuse for a patriotic bikini.

Happy 4th of July Randomosity!

2009-07-04T11:42:00.001-07:00

Taking a break from thinking about the stock market - mostly. The market holiday rally didn't happen, that's for sure. Earnings season is on deck, and it will be interested to see how companies report their numbers and future guidance. I believe the economy is improving and the unemployment numbers are lagging indicators. I think it's likely that the market is in consolidation from the Spring rally and may be in a trading range during the traditionally weaker Summer season. No need to go out on an investing limb here. Dollar cost average in, protect gains from the rally, look for spots near the bottom of the trading range, etc.
Hey, how did I miss this? Moon Bloodgood joins the Burn Notice cast as a last-minute replacement for Jennifer Esposito. As if I needed another reason to watch. Great summer show.
Adam Warner all over TheStreet's newest investment guru Ron Insana. Looks like TheStreet has not missed a beat since giving Lenny (Dykstra) the heave ho. Enter Ron Insana, fresh off his wildly successful stint as a fund of funds maven. As always, Adam's a must read.
Drove to Bodega Bay yesterday and down the coast via Highway 1 to Point Reyes. Did a little hiking. It was definitely cooler on the coast with a solid fog bank hanging in all day. But it was very scenic and nice to get away for a day.
Phil Jackson coming back to coach the Lakers. And I thought maybe Sarah Palin was going to be announced as the new coach.
From Calculated Risk, Another Wave of Foreclosures.
Sarah Palin: What the hell? Is it scandal? Is it the 2012 election? Is it a TV gig with Fox or a stint as Michael Westen's adversary on Burn Notice? Is she Penthouse Miss July? What's going on? And SNL is on Summer Break!
The environmentalist knuckleheads want to make the 4th of July "greener." Seems that fireworks threaten the environment. Good grief. As always, it's best to ignore those nincompoops!
Quote of the day: Republicans believe every day is the Fourth of July, but the Democrats believe every day is April 15. -Ronald Reagan.

Summer Swoon

2009-07-02T15:47:00.001-07:00

The stock market did exactly the opposite of what I thought it would do this week. Getting the blame for the meltdown today was a poor jobs report.

The stock market found little to celebrate heading into the long holiday weekend.
Major stock indexes fell more than 2.6 percent Thursday, pushing the Dow Jones industrials to their lowest level in six weeks, after the government said the unemployment rate hit a 26-year high and employers cut far more jobs than expected.
...
Since hitting multi-month highs on June 12, the Dow has fallen a total of 5.9 percent, while the S&P 500 index has lost 5.3 percent.

Looks like the Summer Swoon is here.

Employment is a lagging indicator and does take time to turn around even if other economic indicators are improving.

Of course, even those who are employed may be facing declining salaries via pay cuts.

If there is a silver lining, it is very unlikely that any of this is impacting Jessica Biel (pictured).

July 1st Rally!

2009-07-01T13:46:00.001-07:00

Stock market up because the bad news isn't as bad as people were expecting. Hooray, semi-bad news! Manufacturing index sinks less than expected.
Oil back up over $70 as supplies fall. Of course, at this time demand isn't in a major uptrend. We're dealing with Nigerian issues and then China wanting to increase their reserves to 150%. Gee, it would be nice if we were to expand our domestic drilling, start using natural gas for cars, and build new nuclear power plants. But it seems as if the Lord hath hardened Pharaoh's heart and we will burn oil until we have to go to war over it.
The government won't fund GM past July 10th. A senior member of President Barack Obama's auto task force testified Wednesday that the U.S. government will not continue to fund General Motors Corp.'s operations if the automaker doesn't get approval to sell its assets to a new company within the next 10 days.
Cheerios for dinner! General Mills profits double. Consumers have been pulling back on their spending at restaurants during the recession and heading to grocery stores. I have cereal for dinner quite a bit. Not to save money, just because I don't like to cook and I don't want to go out every night of the week.
Seven U.S. states from California to Connecticut began the fiscal year today without spending plans in place as they battle over tax increases and other measures to balance budgets amid declining revenue. I recall a book... "Empire of Debt?"
A new Doctor Who movie to be announced? (Love that show, btw.)

Picture is of Freema Agyeman, who plays Martha Jones on Doctor Who.

Monday Holiday Week!

2009-06-29T14:06:00.001-07:00

The market up a bit this week. My guess is that there are more things working in the bull favor than the bear favor this week. Quarter end means funds will want to own the winners to show them in their quarterly statements. Month end means 401(k) adds are automatically dumped in mutual funds. Holiday week means volume will be light and "they" say never short a dull tape.
Just a guess. But that's mine. Up this week. Oh, and what's been up? That seems likely candidates for the dog pile.
Bad math? E*Trade shares today rose 1 cent, or 1.6%, to $1.29. It's been awhile since my college math classes, but my Windows calculator has a 1-cent move up from $1.28 to $1.29 being about a .78% move. The article linked to makes a case for ETFC, but you have to wonder about the numbers they throw around when they're not getting their percentages right. Just saying! (Disclosure: Long ETFC).
I skipped the Michael Jackson (not pictured) coverage this weekend. I wasn't a big fan of his music. In the 80's I was listening to Van Halen and Motley Crue. From a financial angle, the guy owed $400 million. So was the guy rich? He earned a lot, but spent a lot more. They say he has a lot of unreleased tracks, so maybe there is a lot of money there waiting to be made.
Hayden Panettiere has no problem with nudity. "You never know." I don't have a problem with her being naked in a movie, either. Looks like we're all in agreement, Hayden.

TGIF Randomosity and Farrah Fawcett

2009-06-26T15:17:00.001-07:00

I think the stock market could put on a rally for quarter end and month end. Especially the leaders (Nasdaq 100). We'll see if that's too obvious, but we're entering month-end strength as 401(k) money is dollar-cost averaged into mutual funds and as those mutual funds position themselves to own all the winners for their quarterly statements.
Just thinking out loud.
California Governor Arnold Schwarzenegger could just make movies to help resolve the California budget crisis. The Governor has proposed selling California property to raise money. But wouldn't an easier way be to make more movies and donate all proceeds to the budget?
Michael Jackson spent his money faster than he earned it. By 1999, he was earning $11 million a year but spending $31 million. Hey, he could've been a politician!
From Carpe Diem, ECRI leading index shows first positive growth in 22 months.
Digging this iphone MLB.com app. Repeat myself I do, Yoda.
Got the Cubs-Chisox game on. LOL.
US Savings rate up. "In our view, the savings rate will need to stay above 6% for some time to restore household balance sheets to pre-credit boom days," wrote economist Sal Guatieri at BMO Capital Markets in a note to clients. The move for households to pull back spending, and shore up their finances may hurt the economy in the near-term as aggregate consumption remains weak.
Use a Cheeto, go to prison. Authorities said a couple got into a fight using Cheetos. The Bedford County Sheriff's Department said a 40-year-old man and 44-year-old woman became involved in a 'verbal altercation.' Somehow, the orange puffy snacks were used in the assault.

Runaway Inflation Train on the Way?

2009-06-26T13:38:00.001-07:00

20% inflation coming, according to Marc Faber.

Since the creation of the Federal Reserve Bank in 1913, the dollar has lost 95 percent of its purchasing power, Faber said.
“It took 100 years to lose 95 percent (but) I think the next 94-percent loss in purchasing power will happen very quickly,” he said.
In such a volatile market, Faber thinks the safest place to invest is in equities or assets, even real estate.
"I'm not very bullish about real estate prices in the U.S., but I'd rather be in real estate than in 30-year U.S. bonds," he said.

Yes, it seems as if everyone is predicting runaway inflation in the near future. I suppose I'm getting sucked in to that mania as well because I can't see how near 0% interest rates and trillions in government deficit spending won't result in cash raining down from the heavens.

But we have seen an incredible destruction of wealth via the decline in the stock market and in real estate. People don't have money, unemployment is rising, and people have cut back on spending.

I'm on the side that the economy has turned around and the Fed will be too late in adjusting rates, as they usually are. The Fed is reactive, not proactive. At their current rate, I think the bias has to be for an outlook of inflation.

Housing Market Turning Around?

2009-06-26T10:50:00.000-07:00

Could the CA housing market be turning around? The first clue would be declining inventory of unsold homes:

Sales of existing homes are continuing to surge in California, according to the California Association of Realtors, but since many of them are distressed properties, median prices are continuing to sag.
Home sales in May were 35.2 percent above those of May 2008, CAR reported today, but the median price was 30.4 percent lower. Nevertheless, the median price of $267,570 was 4.2 percent higher than April's median, and the inventory of unsold homes dropped to 4.2 months in May, less than half the rate a year earlier.

The pace of buying is picking up and the number of homes available is dropping.

End of Quarter Rally

2009-06-25T17:16:00.000-07:00

Quite a day as the market rallies heading into the end of the month and end of the quarter.

I've been a little detached from the news the past few, but remain 100% long the market.

Big news today isn't the markets but the deaths of Michael Jackson and Farrah Fawcett. Bad things happen in threes, as they join Ed Mcmahon. Wow.

The Market, Maria Sharapova, Jon and Kate

2009-06-23T14:46:00.001-07:00

IBD began today still having the market under pressure. Surprised they didn't flip to correction mode with yesterday's selling and many leaders violating 50dma. They say the lower volume made the day less than it seemed.
Pre-Fed day on the market, as folks sit and wait it out. Market decides not to do anything today and to wait it out and see if Bernanke waxes on or waxes off on the future, interest rates, etc.
A fourth-generation nuclear reactor that runs on nuclear waste. PRISM is GE’s (GE) name for an integral fast reactor, or IFR, and it’s a pretty great technology. The amount of fuel which already exists for such reactors would be enough to power the world for millennia — no new mining needed. Fast reactors also solve at a stroke the problem of what to do with the vast amounts of nuclear waste which are being stockpiled unhappily around the world. They’re super-safe: if they fail they just stop working, they don’t melt down. Very cool. Build 'em!
Insurance companies warn that nationalized health care would dismantle company-provided health care. Easy call, as companies would be able to dismantle their HR departments that deal with health benefits and just throw it all on the government's shoulders. Which of course, wink wink nudge nudge, is what the government's goal is.
Remember the days when you could just call a doctor and make an appointment and go in? Paraphrasing Ronald Reagan, the nine-most feared words in the English language are "I'm from the government and I'm here to help." Stay healthy. Eat well and exercise, and hope your DNA is strong.
What is the lesson learned from Jon and Kate Plus 8? Wait until after The Emmy's to file for divorce? They filed for divorce on Monday. The show presents a melancholy view of the future, while each of them says how they love their kids but basically not each other.
The folks at Crooked Houses probably got a good deal with viewer eyeballs on Jon and Kate yesterday. But with the melancholy theme, you wonder if folks were patiently waiting for the interview room rather than the kids and the crooked houses.
Maybe more interesting going forward, is how the family adapts to divorce. And how many young hotties Jon dates.
Ed McMahon dies at 86.

Picture is of Maria Sharapova!

Monday Swoon

2009-06-22T15:35:00.000-07:00

The market is back to caring about the end of the world as we know it. Has the news flow changed? Not really. Yahoo Finance says today's selling is due to "a lack of upbeat headlines."
When was the last time we had upbeat headlines? 2006?
The government intervening in the markets and corporations can't be giving investors confidence, either. Seems like we've gone somewhat away from a free market economy to a central planning economy where the government intevenes on a whim. If a company isn't competitive, the government isn't going to mandate success. Won't happen.
How do you feel about the "cash for clunkers" program? ...it didn't make any sense.Then it dawned on me: It didn't have to! It's a government program. As long as it's paved with good intentions, it doesn't matter if the road goes nowhere. I agree. It doesn't make sense. Stop already. And who pays for it? Oh, you do via your taxes.
I don't want to be too gloomy. Overall, I think the economy is improving. There is a lot more right than there is wrong. Employment is a lagging indicator and as things improve, jobs will pick up. Heck, even tax revenues will go up next April. The headlines are reporting what's in the rear-view mirror. We're probably in the Summer swoon for stocks and due for a pullback. I think the Nasdaq 100 will lead the market once all is settled. No matter what the front page headlines are.
Jon and Kat Gosselin getting divorced!

Picture is of Dollhouse costar Dichen Lachman!

Raincoat Sunday

2009-06-21T12:07:00.001-07:00

Rain for the US open and a government study on why guys don't like to wear condoms. What do they have in common? Nothing whatsovever.
Happy Fathers Day to the dads!
Ricky Barnes. lol. And yesterday not too many recognizable names on the leaderboard.
I'm not paying too much attention to Iran. I don't think the US should meddle.
I'd expect continued softness and meandering in the market for now. Summer season.

TGIF!

2009-06-19T10:49:00.001-07:00

The market was up. Not seeing too much news flow. At least Yahoo Finance is honest: There is no particular news item to account for the downward move. Watching bubblevision and it's expiration day, it's iPhone day, it's.... Scrambling for info! Don't know.
Fast Money halftime report talking about First Solar. LOL. Good luck! Solar is expensive. There's a push for new nuclear power. Natural gas is cheap right now. Obama seems to be losing steam on his initiatives. Etc. I'm not sure solar is a bit winner right now.
Jobless rate in Western US tops 10%. YIKES! The region is home to California, where the jobless rate jumped to a record 11.5 percent last month, Nevada, where it's a record 11.3 percent, and other states that have been slammed when the housing boom went bust -- snatching jobs and wealth. But stores and restaurants seem crowded. Indian casinos seem crowded. Maybe the jump from 5% to 11% unemployment included people who didn't eat out, shop, or gamble. I don't know!
Market meltdown or meltup? Point-counterpoint. Jane, you ignorant slut!
Yes, I could watch the Cubs-Indians game on Chicago's WGN TV station. But then it's more fun (and cool) to watch the game on MLB.com for the iPhone!
Picture is of Olivia Wilde, from Year One.

Thursday Hem-Haw Randomosity

2009-06-18T09:30:00.000-07:00

Thursday! The market may not not care, though. Mostly hemming and hawing so far today.
You can read Timothy Geithner's comments here, but did you happen to watch him this morning on bubblevision? He seemed in a more upbeat mood, had some smiles here and there. Overall, you get the impression that he knows the economy is mending. Yeah, yeah - news headlines, foreclosures, unemployment blah blah blah. All lagging indicators. Things are improving, and guess who will look good next election cycle? The Democrats! Not that they did anything per se, but looks like they'll benefit from the upswing in the economic cycle. It is what it is.
Oh, and health stocks may improve as it looks like the nationalized health care fiasco is dying or whittling down.
On yesterday's Investor's Edge, Gary Kaltbaum mentioned that we're seeing more rotation than selling, which may be interpreted as bullish. Gary also said he's been underperforming the market since early May. You can catch his archive from yesterday at garyk.com.
Analysts wil be upgrading E-Trade? Although the stock sold off irrationally, the fact that ETFC's bond rallied to 98.5 reaffirms that ETFC is turning the corner. The risk of default is significantly decreasing and ETFC is on its way to increasing capital ratios, reducing balance sheet risk, and significantly reducing its debt burden. (Disclosure: Long ETFC)
Gary B Smith says on Twitter that the market could be in for a small bounce.
A Florida city imposing dress code that includes underwear and deodorant. The city council in Brooksville north of Tampa recently approved a dress code that instructs employees to observe "strict personal hygiene." It also prohibits exposed underwear, clothing with foul language, "sexually provocative" clothes and piercings anywhere except the ears. Repeat offenders can be fired.

Wednesday A.M. and Taylor Swift!

2009-06-17T09:19:00.000-07:00

Market meandering after two strong down days. IBD still has the market uptrend under pressure. Sometimes I wonder if by the time IBD makes a switch from uptrend to downtrend, if you've missed the bulk of the move. So what good is it!?
Other technicals for SPY and QQQQ... RSI(2) is in how-low-can-you-go limbo mode. Very low. MACD crossed to the darkside a few days ago. For all the weeping and gnashing of teeth, the SPY is just below the 21dma. And the QQQQ is right about there, plus or minus a bit.
New $AAPL iPhone operating system out today. That'd be "3.0," baby. I'm always a bit leary being the first kid on the block to upgrade. I prefer someone else to do the beta testing, no? LOL
Fantasy basebally waiver-wire pick-ups today? The Twins Francisco Liriano pitching at home against the Pirates, and Yankees (and new father) Chien-Ming Wang pitching at home against the Nationals. Why not?
Gasoline prices up 50 days in a row! Wow! Fantastic!
Of course, the CPI rose less than expected in May. Consumer prices rose less than expected in May and posted the steepest annual drop in 59 years, according to government data released Wednesday, fresh evidence that the recession is keeping inflation in check. Well, if you're spending more at the pump, you're spending less elsewhere.
8-year old boy saves sister and drunk adults from fire. Police in Poland say an 8-year-old boy saved his sister and three drunk adults from a fire by calling police and fighting the flames before help arrived. The fire started outside the door of the boy's apartment in the western town of Miedzyrzecz late Monday.

Picture is of Taylor Swift, who won the CMT Video of the Year and Female Video of the Year at Tuesday's CMT Music Awards.

Changing Market Tone

2009-06-16T11:57:00.001-07:00

IBD changed their market stance to an uptrend under pressure. And you get the sense that after the amazing market run that we have had, we are settling into the summer doldrums. The headlines haven't changed much, but the market mood seems to have.
I haven't done much and remain long. If we do get a confirmation day that shows the uptrend is over, I may become less aggressive.
Is the NBA season over? No way? NBA DRAFT coming up. Then, it is over.
Are you watching Kendra? LOL.
Politics? Eh.

Riots on Wall Street!

2009-06-15T08:35:00.001-07:00

Following the Lakers championship, traders are rioting on Wall Street. Stocks are being burned, tipped over, and there is mayhem on the floor.
Will watch for a reversal, to see if those looking for a dip buy this up.
Not sure what is getting fingered for the blame. Government debt? Government takeover of health care? George W. Bush?

Lakers Win NBA Finals!

2009-06-14T21:13:00.000-07:00

Lakers Win NBA Finals!